Barnett Shale

WPX Energy To Sell Barnett Shale Properties

WPX Energy (WPX) reported that the company has signed an agreement to sell producing oil and gas properties in the Barnett Shale. 

WPX Energy is selling 27,000 net acres with production of 67 million cubic feet of natural gas per day from 320 wells.  The company is also selling 91 miles of associated pipeline assets.

An investor group led by KKR Natural Resources and Premier Natural Resources is paying $306 million for the Barnett Shale assets and similar properties in the Arkoma Basin in Oklahoma.

Conoco Phillips Sells Barnett Shale Assets To KKR

Conoco Phillips (COP) announced that the company has sold properties in the Barnett Shale to Kohlberg Kravis Roberts & Co (KKR).  The company did not disclose a purchase price.

Kohlberg Kravis Roberts & Co is purchasing producing properties in Texas with 93 Bcfe of proved reserves.  More than 90% of the reserves are categorized as proved developed producing.

Kohlberg Kravis Roberts & Co has a partnership with Premier Natural Resources to make investments in oil and gas assets and operates as KKR Natural Resources.

EV Energy Partners, L.P. Purchases Barnett Shale Assets

EV Energy Partners, L.P. (EVEP) announced that the company is purchasing producing oil and gas assets located in the Barnett Shale in Texas.  The company is purchasing a 31% share of the assets from Talon Oil & Gas LLC for $300 million.

EV Energy Partners, L.P. net share of the Barnett Shale assets include 212 producing wells with proved reserves of 328.5 Bcfe.  The company said that 71% of the production is natural gas and 29% is liquids.

EV Energy Partners, L.P. said that the wells were producing 27 million cubic feet equivalents per day, and had a reserves to production ratio of 33 years.